Until running plans of Kauto/Master Minded are clear, I'm putting my feet up and watching Betfair Chase replays!
I doubt they'll resist running Kauto and I agree with Ardross that he is still capable of running a big race. However, Nicholls concern is not whether he is good enough, but (as an older horse) whether he will recover in time. If Kauto doesn't run in the KG he'll go straight to the Gold Cup.
Whatever happens with Kauto I'm sure Master Minded will run in the KG anyway.